Dubai Silicon Oasis (DSO) is the up and coming business Hub of Dubai, if the bid for the Expo 2020 is won by Dubai, DSO is surely going to shoot up sooner than you think. It is a technology park with both living and business arrangements, so you won’t have to travel far to work. So let’s talk about Dubai Silicon Oasis Authority (DSOA)…
The high use of technology and economics boosts business up to the sky with a great infrastructure, in house business options, governmental and financial support all around (banks, offices and support services) gives you a bit of everything at your doorstep.
A message form the chairman suggests DSOA aims to “…play a fundamental role…and assist in the development and training of local talent within the domain of advanced technology manufacturing.” (H.H. Sheikh Ahmed Bin Saeed Al Maktoum).
DSOA has a “Main focus”, which is; The High Tech Industry. This includes Mobile technologies (ICT Based companies for apps etc.), Internet, Data Centers, Software/Software-As-A-Service (SAAS) and Semiconductor. However they also reach out to IT in general, Telecom, Electrical, Consultancy, Law firms, Finance institutions and much more. Although DSOA knows who and what they want, they won’t turn you away and it is a great place to be with having everything at your doorstep form living to work to local groceries and a community to interact with.
Adding to this they are also in partnership with companies like Fujitsu, Synopsys, AMD and Western Digital. Which broadens your horizons even more!
So you like what you hear? But how do you get started?
Within this free zone there are 3 types of companies and 5 types of licenses, so you can mix and match which type of company you want with which license, there is usually a pattern but having the option there (If you want to register multiple companies) is great! So what are they you ask? The company types are Branch, Free Zone Establishment (FZE) and Free Zone Company (FZCO). We have talked about Branch and FZE, so what is FZCO? A Free Zone Company is “…a legal entity incorporated/registered with a minimum of two shareholders.” These can be individuals or non-individual(s)/ corporate.
Next, choosing your license; service, trade, Industrial, Business Operation Permit or Entrepreneurial Business License (EBL). Please see out TYPES OF LICENCES articles for a full overview of each of these, but the names are pretty self- explanatory.
Below is a checklist and how it all happens for the DSOA!
- Application form
- Letter of intent
- Passport Copies
- NOC (UAE RESIDENTS ONLY)
- Bank/Financial statements
- Company business plan
Your application process will usually take around 7-10 working days, then your license and lease agreement will take an additional 2days or so. THEN YOU ARE READY TO GO.